Hmmm, going to go look at Scarborough
Need to buy another property - where???
- Thread starter Tulamalula
- Start date
thoughts of not buying another in Perth is because one should diversify their portfolio. Of course, if anyone can steer me towards a heavily under market value property for sale with a 30% yield and development potential for under $400K less than 10K to the Perth CBD I will certainly consider Perth.
buy, rent and hold for the long term. Would consider a small reno to increase cash flow/capital, but property would have to be in Perth if I did a reno as I don't want to be organising things from Perth.
Well done for settling on an investment strategy.
Providing you purchase good quality well located and hold for the long term you cant go wrong.
Its the simple things that are sometimes the best.
In relation to not being able to renovate a property located remote to where you are located, are you aware property managers also project manage renovation works to on IP's?
This is how I conduct renovations on IP held in different states. You are already paying them to manage your IP for you. Costs no more.
Food for thought.
I have used property managers to help manage minor renovations/ simple cosmetics as they are in touch with many local tradespeople in their given area. This has worked out well.
The only concern I would have with this is when it is a major project, where perhaps structural work is required, new kitchen etc. I would definitely want it checked out by a builder or appropriate trade, you can pay for an inspection on this, wont break the bank and peace of mind.
The only concern I would have with this is when it is a major project, where perhaps structural work is required, new kitchen etc. I would definitely want it checked out by a builder or appropriate trade, you can pay for an inspection on this, wont break the bank and peace of mind.
Hee hee. There is a Perth in Tasmania so they aren't wrong - just a little misguided as to which one is more important.
Perth, Tassie would suit Tula's budget very well.
http://www.realestate.com.au/property-house-tas-perth-115406923
Perth, Tassie would suit Tula's budget very well.
http://www.realestate.com.au/property-house-tas-perth-115406923
Buy in a suburb close to city, say up to 30km, that is cheap and cash flow positive. And a suburb where you wouldn't want to live yourself! eg. Logan Central, Kingston, Woodridge, Marsden, etc.
Because that is where astute investors invest - cash is king. Cash flow positive is sweet. The target market - long term renters reside in these suburbs. McDonalds sells crap burger for a reason, though they can afford to make the most expensive one.
Because that is where astute investors invest - cash is king. Cash flow positive is sweet. The target market - long term renters reside in these suburbs. McDonalds sells crap burger for a reason, though they can afford to make the most expensive one.
Long term renters....
What's going to push the prices up?
There's still suburbs in melbourne where you can buy houses for under 300k
Middle of the road suburbs are going up all the time because that's where people with aspirations want to live
by long term renters I meant people who rent for a good part of their life before buying anything, if ever. There are more of these in the stigmatised suburbs. They offer same rent as inner suburb tenants, your exposure is lower and if you have a long term hold strategy, that should work in theory.
the median rent keeps rising at least $5/week every year and easily up to $10/week.
With Logan about to allow dual occupancy granny flats, yield can be improved, and value created. Bank valuation is what matters when you hold a property and use equity to buy another one.
the median rent keeps rising at least $5/week every year and easily up to $10/week.
With Logan about to allow dual occupancy granny flats, yield can be improved, and value created. Bank valuation is what matters when you hold a property and use equity to buy another one.
Say what?
Are you telling us that people who live in the poorest suburbs pay the same rent each week as those who live in lovely family-friendly desirable suburbs? A modest house costs $300 a week in Logan and $450 a week in any suburb I would choose to live in.
I have seen a similar-sized and condition house in Logan and Sunnybank renting at $350/week. Former sells for $240k, latter $420k.
The demand is [modeate pace] heading towards units/townhouses closer to the city as opposed to house/land further away from the city.
I would do townhouse say about 7-8km from city as it gives a bit more land than apartments [and more land generally = more cap gains] , and is closer to the CBD than a house will be for that price. I think you will find 7-8km is also close enough to easilly get a tenant [ and that too a wide range- from empty nesters to young families to perhaps students, whereas CBD apartments mostly attract students or transient tenants and houses that are far out mostly families]. Also dont forget when it comes time to sell [ and at some point it will], townhouses 7-8km from CBD will have scarcity factor over high density CBD apartments and will appeal to a wider audience.
